N.Y. gets $9.5 million from N.C. firm over soldier debt fraud

Money

By The Associated Press

Published: Monday, November 12, 2012 at 11:26 AM.

ALBANY, N.Y. — New York state Attorney General Eric Schneiderman (SHNEYE'-dur-muhn) has reached a $9.5 million settlement with retailer SmartBuy and its affiliated companies over debt fraud aimed at soldiers.

Schneiderman says SmartBuy operated from a kiosk and small storefront at Salmon Run Mall near the Fort Drum Army post and ruined the credit of thousands of soldiers through fraudulent charges. The settlement, along with an earlier one with SmartBuy, wipes out $12.9 million in debt for more than 4,000 soldiers nationwide.

ALBANY, N.Y. — New York state Attorney General Eric Schneiderman (SHNEYE'-dur-muhn) has reached a $9.5 million settlement with retailer SmartBuy and its affiliated companies over debt fraud aimed at soldiers.

Schneiderman says SmartBuy operated from a kiosk and small storefront at Salmon Run Mall near the Fort Drum Army post and ruined the credit of thousands of soldiers through fraudulent charges. The settlement, along with an earlier one with SmartBuy, wipes out $12.9 million in debt for more than 4,000 soldiers nationwide.